Target Confirms Lakeview Property Purchase

CHICAGO—The retailer Target has purchased a two-story building in the Lakeview neighborhood, the company has confirmed in a statement.

The Minneapolis-based firm would not disclose the amount it paid for the site, located north of the Lincoln, Belmont and Ashland avenues intersection, or any specific plans. “Chicago is a great market for Target and we continue to pursue new opportunities to serve guests there,” according to the statement released by spokeswoman Sarah VanNevel. “I can confirm that Target has closed on the property at 3201 North Ashland Avenue. I have no additional details to share at this time.”

The company reportedly bought the foreclosed-on property from Wells Fargo Bank. The retailer has more than 10 stores in Chicago, including test urban stores such as the one in the Sullivan Center downtown.